In allowing users to redownload any film they have purchased through their UK iTunes account, Apple is giving customers a way to easily track and retrieve previously purchased content. This is especially helpful for users with smaller hard drives in their MacBooks and iOS devices. Now they don't have to back up and store all the large media purchases they made. When finished watching a film, the user can just delete it and the redownload it again when necessary. However, from my iTunes UK account I can verify that not all films are available for redownload from all studios...yet.

In addition to the UK, Apple appears to be rolling out iTunes movies in the Cloud to many other countries including Ireland, Australia, Canada, New Zealand, and several Latin American locals.